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QROPS set to become more popular over next 12 months
Offshore IFAs are expecting an increase in QROPS business over the coming year, according to new research.
By: Iain Farr
Some 68% of 330 IFAs anticipated writing more schemes, with a further 28% believing levels will remain the same, the survey by Skandia International found.
It’s a view echoed by David Erhardt, Pensions Director of STM Group, “I’m very positive about the outlook for QROPS, particularly since we developed our HMRC-recognised scheme in Gibraltar, which means expats can now move their schemes here.
“Following on from our STM Malta QROPS launch in December, the STM Group multi-jurisdictional QROPS Wrap is now a more persuasive offering than ever.”
The prediction comes after a growth in sales of the schemes last year. The excellent flexibility provided by the QROPS wrap in financially sound jurisdictions means retirees who have moved out of the UK can make the most of life abroad.
As the UK economy continues to struggle, low-tax offshore pension schemes make sound financial sense and QROPS have become a strong part of the offering for international advisors.
Increased awareness of schemes like the STM wrap are making it easier for IFAs to advise their clients on ways to save money, helping to avoid issues such as currency fluctuations and inheritance tax with a pension scheme that works best for their lifestyle.
T: +350 200 52476
or visit www.stm-qrops.com to read more about STM Group QROPS and download your free QROPS guide.
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A cross border financial services provider offering innovative & impartial financial advice for high net worth individuals, cross-border investors and expats. Specialists in QROPS, international tax planning and trust and company management services.